The World in Brief from The Economist

America’s stock market rebounded on Friday after a run of sell-offs.

Big tech stocks were dumped by investors as they reacted to the sector’s plans to spend a combined $660bn this year on artificial intelligence. Also, Novo Nordisk said it would take legal action against Hims & Hers, a telehealth company, for selling a “knock-off” version of its Wegovy weight-loss pill.

Shares in Amazon fell by as much as 10% after the tech giant said it planned to spend $200bn this year on capital expenditure, which includes data centres and other AI-related projects.

Sir Keir Starmer, Britain’s prime minister, said he did not know “the depth and darkness” of Peter Mandelson’s relationship with Jeffrey Epstein, a dead sex offender.

Sir Keir Starmer’s position as Britain’s prime minister looked increasingly insecure as a scandal grew over what he knew about Peter Mandelson’s friendship with Jeffrey Epstein. Also, tech stocks fell for a second consecutive day, amid concerns about software firms’ vulnerability to AI and worries about chipmakers.

Tech stocks fell for a second day, as investors’ concerns about AI disrupting work mingled with worries about chipmakers.

Shares in software companies fell again on Wednesday after sharp losses the previous day.

Novo Nordisk’s shares plunged almost 20% after it warned that sales and profits would fall this year. Also, America’s navy shot down an Iranian drone that it said “aggressively approached” the USS Abraham Lincoln.